Anglo American posts record met coal output in Q1

Anglo American had a record quarter for metallurgical coal output in January-March on improved underground operations in Australia.

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Export metallurgical coal production increased 31% year-on-year and 28% quarter-on-quarter to 6.1 million tonnes in the first quarter of 2014, the miner said on Thursday April 24.

Production soared as longwall cutting hours at Grasstree and Moranbah mines in Australia improved by 63% and 33%, respectively.

The Grosvenor coking coal project in Queensland is nearly 50% complete, with longwall production on track to start at the end of 2016 and within the $1.95 billion budget, Anglo American said.

The miner maintains its previous production guidance for export metallurgical coal at 18-20 million tonnes for the full year in 2014.